Banking on Surveillance: The Secret History of KYC

Logosofia no Dia a Dia · Mar 6, 2026 · 28m

For decades, the simple act of opening a bank account has transformed from a community handshake into a rigorous process akin to a high-level security clearance. This episode explores the "plumbing" of the global financial system, tracing the history of Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations from their inception to the modern day. We examine how landmark legislation like the Bank Secrecy Act of 1970 and the PATRIOT Act of 2001 deputized financial institutions as an unofficial arm of law enforcement, forever altering the concept of financial privacy. From the…